SANTA FE – The New Mexico Regulation and Licensing Department’s Securities Division today issued an advisory urging investors to approach high-yield investment programs with caution.
High-yield investment programs, or HYIPs, are Ponzi schemes sold by unlicensed individuals. “In the past, con artists relied on word of mouth to lure investors into these investments. Now they rely on the Internet and social media buzz to quickly popularize their schemes before the fraud is discovered,” New Mexico Regulation and Licensing Superintendent, Mike Unthank said.

SANTA FE – State Securities Division Director Alan R. Wilson today issued Notices of Contemplated Action against two financial institutions and their brokers, alleging they breached their duties as investment brokers that contributed to a financial crisis at the Bernalillo County Treasurer’s Office.